Long-time family-owned business to sell dealership in Sacramento

Mel Rapton Honda is transitioning into new ownership this weekend. The dealership's sale comes amid a tough year for consumers as prices keep surging. Dave Rapson, professor of economics at UC Davis, says there are two factors driving the car price surge nationwide. "It's not just new cars that are expensive but it's used cars, and the reason for that is that those two markets are linked. So, when the price of new cars goes up by a lot, people might start looking for substitutes," Rapson said. The COVID-19 pandemic contributed to a reduction in car production in 2020, which continues to affect used car demand and supply today. see more above.